During the week ending October 25, imported iron ore prices in China have slightly bounded back. At the same time, domestic sales prices of iron ore have maintained steady. Prices of domestic production and imported iron ore in China can be viewed in the SteelOrbis price reports section.
At present, Indian fine ores of 63.5 percent grade was offered at $141/mt at Qingdao port. Meanwhile, the quotation of 66 percent iron ore concentrate in Tangshan was $131.4/mt, while prices of the similar material stood at the level of $109/mt in Beipiao, both are excluding VAT.
In the given period, domestic traders have slightly raised their offers, while producers have not yet shown any passion with few orders and inquries. In light of the low demand, it's expected that iron ore prices would trend sideways in the near term.